1 out of 10 drivers in Spain is not properly insured according to the vehicle they drive and the use to which they put it. There are 31 million insured vehicles bur 11% of the policies are not optimised. It is not a question of paying more or less but of ensuring that the policy protects you properly.
Do you know what insurance is appropriate for the car you drive, where you live, your age…? These are the 3 key points:
The older the car, the more expensive the insurance
A new car begins to lose value as soon as it leaves the dealer’s showroom and will continue to decline until it bottoms out at 13% after 10 years. The older the vehicle the more insurance costs, because age increases the risk of an accident. According to the DGT most vehicles involved in accidents with death were more than 13 years old and had mechanical failures due to worn components.
The premium can only be reduced by subtracting coverage
A few euros is sometimes worth a lot. When you need a tow-truck, it’s better to let the insurance pay the bill rather than paying out of your own pocket. The same is true when a stone is thrown up by the car ahead and breaks the windscreen, or if the car is stolen. These are very economical guarantees and it is not worth saving a few euros in exchange for having to pay through the nose when the damage occurs.
All Risk until when?
A vehicle is only worth half its purchase price after six years. Until then it is very important to also check the excesses: sometimes they are different depending on which part of the car is involved. Later, you should check the policy to see if there are better options on the market. Remember: we are best at comparing.
The important thing is to protect yourself and avoid surprises.